Recently, I had the privilege of attending RSA’s cyber security seminar in San Francisco, CA, the seminar was held from February 13th to the 17th. Furthermore, some of the top cyber experts in the industry were available afterwards, to answer one-on-one questions. Even though, the one-on-one was not a part of my package, I still learned some valuable information for the seminar. For example, the seminar devoted a few hours to internet banking and provided the banking industry with tips on how to thwart attacks and what forms those attacks might come in. After the seminar concluded, I went to grab a quick bite to eat in the hotel restaurant, before catching my flight back. Thus, I was excited to share all the information I learned with my…show more content… Furthermore, fraudsters use social engineering to deceive the bank customers and gain access to sensitive online credentials (Schneider, 2013, p. 480). Unfortunately, fraudsters use phishing to hold clients’ customer data through making phone calls or sending emails to determine information on the payment cards. Moreover, the information obtained through phishing enables the fraudsters to obtain access and make withdrawals, thus forging the customers’ identity. For example, backdoor programs, such as Cart32, steal customer data (Schneider, 2013, p.430). Therefore, phishing not only impacts negatively internet banking but also poses threats to the bank payment system.
According to Schneider (2013), the phishing scheme involves the fraudsters using stenography in spoofed emails to lead bank customers to a prototype of their bank’s websites that look legitimate. However, the fake website would be designed to steal their information (p. 427). Thus, the websites save customers financial information through coaxing bank customers to learn their credit card numbers and social security numbers. Moreover, the fraudsters may use advertisements or deliver emails that appear to be sent by IB bank. Further, the advertisements contain website links that replicate customers’ bank’s website. Moreover, fraudsters may use mobile communication to ask bank customers about the information concerning their banks